Submissions

ACSI supports the proposed amendments to the Modern Slavery Act as a step forward to improving the quality of reporting, addressing persistent non-compliance, and streamlining regulatory compliance, and encourages the introduction of a due diligence obligation.

ACSI welcomes focus on economic reform, including emphasis on productivity, economic resilience and budget sustainability. These priorities are significant to ACSl's members, many of whom have a direct, long-term stake in the Australian economy on behalf on their beneficiaries.

Achieving net zero will need a suite of coordinated policies that address decarbonisation while upholding wider economic, social and environmental outcomes. It will also require a significant level of investment from both public and private sources.

In ACSI’s primary focus of equity markets, frameworks which protect shareholder rights and promote strong company governance have significant value and ultimately provide investors with confidence, supporting participation in public markets.

ACSI supports proposal combining AASB, AUASB and FRC into one body and broadly supports Consultation Paper proposals, additionally providing additional recommendations to strengthen design of the combined body.

The Code’s removal of references to some of the key risks that long-term investors face (like climate change) alongside the amended definition, has the potential to imply a de-emphasis of the importance of exercising ownership rights and responsibilities.

ACSI supports the proposed amendments to the Treasury Laws Amendment Bill 2024, which are expected to enhance transparency of Australia’s financial markets.

ACSI welcomes the introduction of the Workplace Gender Equality Amendment (Setting Gender Equality Targets) Bill. Monitoring and reporting on outcomes and using targets, rather than relying only on policies, can support better practice and encourage greater progress.

ACSI welcomes the release of draft ASIC regulatory guidance and strongly supports the introduction of mandatory climate-related financial reporting, its proposed timeframe and phased implementation